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Hanoi (VNA) – Non-cash payments continue to boom in Vietnam this year as the country has seen a surge in banking transactions and mobile payments in the first four months of the year, according to an official from the State Bank of Vietnam (SBV). Banking transactions and mobile payments are experiencing impressive growth in Vietnam when it comes to both the number of users and value of transactions, head of the SBV’s payment department Pham Tien Dung told a seminar on cashless society held in Ho Chi Minh City on June 12. In the first four months of the year, the number of domestic banking transactions grew 26.2 percent with value expanding 15.7 percent. As of the end of March, the number of banking accounts reached 103.1 million, up 22.4 percent from the end of 2017, Dung said. Notably, mobile payments increased sharply by 189 percent in number and 166 percent in value from a year earlier, he added. He attributed the growth to the development of IT and … [Read more...] about Banking transactions, mobile payments grow sharply in first four months

Banking transactions and mobile payments are experiencing impressive growth in Vietnam when it comes to both the number of users and value of transactions, head of the SBV’s payment department Pham Tien Dung told a seminar on cashless society held in Ho Chi Minh City on June 12. In the first four months of the year, the number of domestic banking transactions grew 26.2% with value expanding 15.7%. As of the end of March, the number of banking accounts reached 103.1 million, up 22.4% from the end of 2017, Dung said. Notably, mobile payments increased sharply by 189 % in number and 166% in value from a year earlier, he added. He attributed the growth to the development of IT and telecommunications, thanks to which banks have created a variety of new user-friendly cashless payment services, such as mobile banking, Internet banking and bankcard payment. Vietnamese banks have quickly integrated latest technologies, including fingerprint authentication and facial recognition, … [Read more...] about Banking transactions, mobile payments grow sharply in Vietnam

Singapore (VNA) – Political parties in Singapore wrapped up their nine days of campaigning on July 8 and they are having the Cooling-off Day on July 9 before over 2.65 million voters go to cast their ballots on the next day. This year’s election campaigns were special as they were mainly carried out online. Parties made full use of TV channels, newspapers and social networks like Facebook, Twitter and Youtube to reach voters. However, direct campaigning activities still took place. Due to restrictions on mass gatherings to curb the spread of COVID-19, candidates moved in groups of not more than five people to meet and persuade voters to vote for them. With advantages of the ruling party, the People’s Action Party made more concrete commitments to attract voters’ support such as accelerating suspended infrastructure projects, building new entertainment sites, and upgrading government-built flats. In fact, its top priorities are still post-pandemic economic … [Read more...] about Singapore: Political parties conclude election campaigns

Singapore (VNA) – Singapore clinched three of the top five private equity and venture capital deals struck in the region in the first quarter amid markedly slower economic activity across Southeast Asia due to the COVID-19 pandemic. There were a total of 141 such deals worth 1.4 billion USD in the region from January to March, Ernst & Young said on July 8. This was 9 percent down in terms of deal numbers and 65 percent lower in value compared with the same period last year. The biggest first-quarter deal in the region was a 706 million USD investment by Krungsri Finnovate and MUFG Innovation Partners in the Singapore-based ride-hailing software company Grab Holdings. The other two Singapore deals that made the top five were a 75 million USD investment in eCommerce company ShopBack and a 37 million USD investment in solar energy firm Sunseap Group. Luke Pais, Ernst & Young's M&A and private equity leader for ASEAN region, said there was a lot of uncertainty in the … [Read more...] about Singapore secures three of top five regional deals

After an early struggle, the market balanced at the end of the day and investors were calm enough to buy in stocks that were sold at low prices, Sai Gon-Ha Noi Securities (SHS) said in its daily report. … [Read more...] about Financial, banking stocks drive market up